News Article From: 12-21-2005
The first article, Real Estate: Is the party over, from Fortune via CNN.com, reports on a study prepared by Moody's Economy.com and home property valuation company Fiserv CSW that looked at predicted home appreciation in the 100 largest metro areas of the country for 2006 and 2007. Nationally they predict a 7 percent appreciation in 2006 and flat appreciation for 2007. But markets that have seen the greatest appreciation over the past five years appear to be vulnerable. The study predicts that at some point in the next two years, a third of the nations largest metro areas are expected to see modestly falling home prices. They include Phoenix in this category, predicting a 2 percent increase in home values in 2006, and a 3.7 percent drop in prices in 2007. The say Las Vegas home prices are expected to drop 7.9 percent in 2006 and 5 percent in 2007. The article contains a table showing the 100 largest metro areas and their forecast for home appreciation in each of these market areas.